🇲🇦 Pay Suppliers in Morocco
Pay Moroccan suppliers for phosphates, textiles, automotive parts, agricultural products
T+0 (2.3s avg within Unicorn network). Save 83% vs traditional banks.
What you need to send money to Morocco
What details do I need to pay suppliers in Morocco?
To pay suppliers in Morocco you need the recipient's IBAN (24-character IBAN (Morocco MA format)), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Morocco?
Payments to Morocco settle in an average of 2.3 seconds when using local rails such as SIMT (Système Interbancaire Marocain de Télé-compensation), compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Morocco?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 83% versus banks (e.g. £505 vs £2924 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Morocco
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.9% | 0.5% |
| Payment Fee | £24 | £5 |
| Total Cost (£100,000) | £2,924 | £505 |
| YOUR SAVINGS | N/A | £2,419 (83%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Morocco
Avoid expensive SWIFT fees. We use local payment systems in Morocco for faster, cheaper settlement.
SIMT (Système Interbancaire Marocain de Télé-compensation)
Moroccan interbank clearing system
SRBM (Système de Règlement Brut du Maroc)
Bank Al-Maghrib RTGS system
M-Wallet
Mobile payment platform for businesses
Who Uses This Payment Corridor
Key Industries in Morocco
- Phosphates
- Textiles
- Automotive
- Agriculture
- Manufacturing
Average Transaction: £32k-£155k
Typical Monthly Volume: £200k-£2M
Popular Supplier Types
- Phosphate mines (Khouribga, Benguerir)
- Textile factories (Tangier, Casablanca)
- Automotive parts (Tangier, Kenitra)
- Agricultural exporters (Agadir, Marrakech)
What You Need to Know: Morocco Payments
Regulatory Considerations
- Bank Al-Maghrib FX regulations
- Moroccan Customs documentation
- VAT (20%) on goods and services
- Office des Changes oversight for FX transactions
Payment Tips for Morocco
- Morocco = Phosphate leader (70% global reserves), automotive hub
- SIMT standard for MAD payments
- Casablanca + Tangier = Main business/manufacturing centers
- EU trade ties - close integration with European supply chains
Why Choose Unicorn Currencies for Morocco Payments
Local Rails, Not SWIFT
We use SIMT (Système Interbancaire Marocain de Télé-compensation) and other local systems in Morocco. Avoid 3-4% SWIFT fees and 2-3 day delays.
83% Lower Costs
Save £2,419 on every £100,000 payment. On £200k-£2M monthly volume, save up to £72,570 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Morocco payments.
Real-Time FX Tracking
Upload supplier invoices in MAD. See live P/L as GBP/MAD rates move. Lock rates for 15 seconds before committing.
Frequently Asked Questions: Morocco Payments
What details do I need to pay suppliers in Morocco?
To pay suppliers in Morocco you need the recipient's IBAN (24-character IBAN (Morocco MA format)), plus account number and beneficiary name. Payments typically settle in 2.3 seconds with Unicorn Currencies at 0.5% FX spread and £5 per payment.
How fast are payments to Morocco?
Payments to Morocco settle in an average of 2.3 seconds when using Unicorn Currencies' local rails (e.g. SIMT (Système Interbancaire Marocain de Télé-compensation)), compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Morocco?
Unicorn Currencies charges 0.5% FX spread and £5 per payment for Morocco. You save about 83% versus banks (e.g. £505 vs £2924 on a £100k transaction).
£1,000,000+ Paying Suppliers in Morocco? Save 83%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Morocco
For businesses with high annual FX volume. Not consumer transfers.